Technical Analysis: Commodities – Nov 14
Technical Analysis for November 14, 2014
XAU/USD (GOLD) has been trading around 1130 – 1180 level and market will stay sideways. No major changes are expected in short term and long term downtrend still intact in XAU/USD chart. A higher leg above 1185 will make 1200 as the next target and a lower leg under 1120 will bring the price to a newer low level.
XAG/USD (SILVER) has been trading sideways around 15.40 – 15.85 level, so Long term downtrend still intact in XAG/USD chart. A higher leg above 16 will make 16.2 as the next target and a lower leg under 15.2 will bring the price to a newer low level.
Crude Oil The downtrend in Crude Oil seems to be intact. Crude oil has broken the 75 line and it will target 74 next. A rebounce to 76 will bring the crude oil sideways again and a break higher to 76.8 level will target 77.5 next.
Copper has been trading sideways at 3.000 level to 3.060 level. The triangle chart is waiting for a break and a break under 2.990 will send copper to a new lower leg and a break for the upward movement over 3.080 will target 3.100 next.
Risk Disclaimer
Forex and CFDs are leverage products, involved a high level of risk and can result in the loss of all your invested capital. Forex and CFDs may not be suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience.
All information on this website, including any opinion, charts, prices, news, data, Buy/Sell signals, research and analysis is our point of view and is provided as general market commentary and does not constitute any investment advice.
OneStopBrokers.com will not accept any responsibility or liability for losses incurred by customers, visitors or traders as a result of using the data available on OneStopBrokers.com. Read more
